Blog

In Singapore a Honda Car Was Bought with Ethereum

In Singapore, a 27-year-old boy will pay half the price of a new Honda Vezel car with the help of cryptocurrency. The total cost of a car in this country is 84 000 dollars.

According to tnp.sg (The Newpaper), David Lau paid caution money in crypto in the amount of $10,000. During the 3-week period, he will need to pay 32000 Ethereum. The buyer will pay the remaining sum with the help of a loan.

The Honda car was acquired at the recently opened (late last year) MHG Cars auto dealer. The management of the auto dealer says that only their company accepts crypto payments for cars in Singapore. It allows for lowering the commission percentage compared with ordinary credit cards. Today, the Singapore law almost does not regulate cryptocurrency, unlike ICO. It should be noted that the country is considered to be a good place for launching an Initial Coin Offering. It is reported that in 2019 the government will consider the relevant bill.